Dayforce (NYSE:DAY - Free Report) had its target price increased by Needham & Company LLC from $82.00 to $95.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.
Other analysts also recently issued reports about the company. Citigroup increased their price target on Dayforce from $75.00 to $81.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their target price on shares of Dayforce from $80.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday. Piper Sandler boosted their price objective on Dayforce from $71.00 to $82.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Dayforce from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Finally, TD Cowen raised their target price on shares of Dayforce from $58.00 to $62.00 and gave the company a "hold" rating in a research note on Monday, October 7th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $79.08.
Read Our Latest Research Report on Dayforce
Dayforce Stock Down 2.2 %
Shares of NYSE DAY traded down $1.77 during trading on Wednesday, hitting $77.19. The stock had a trading volume of 1,292,216 shares, compared to its average volume of 1,608,523. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a fifty day moving average of $64.14 and a two-hundred day moving average of $57.82. Dayforce has a 12 month low of $47.08 and a 12 month high of $81.32. The company has a market capitalization of $12.17 billion, a PE ratio of 234.43, a PEG ratio of 3.71 and a beta of 1.27.
Insider Transactions at Dayforce
In other news, insider Jeffrey Scott Jacobs sold 643 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the transaction, the insider now directly owns 34,074 shares of the company's stock, valued at approximately $2,159,269.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Stephen H. Holdridge sold 1,000 shares of Dayforce stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $65.00, for a total transaction of $65,000.00. Following the sale, the chief operating officer now owns 100,437 shares of the company's stock, valued at approximately $6,528,405. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Scott Jacobs sold 643 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $63.37, for a total transaction of $40,746.91. Following the completion of the sale, the insider now owns 34,074 shares of the company's stock, valued at $2,159,269.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,643 shares of company stock worth $384,617. Insiders own 4.90% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Select Equity Group L.P. bought a new stake in shares of Dayforce during the 2nd quarter valued at $721,310,000. EdgePoint Investment Group Inc. purchased a new stake in shares of Dayforce in the 2nd quarter worth approximately $521,396,000. Dragoneer Investment Group LLC bought a new position in Dayforce during the 2nd quarter valued at approximately $193,274,000. Charles Schwab Investment Management Inc. raised its stake in Dayforce by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,395,044 shares of the company's stock valued at $85,446,000 after buying an additional 8,506 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in Dayforce in the second quarter worth $51,027,000.
Dayforce Company Profile
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Dayforce Inc, together with its subsidiaries, operates as a human capital management (HCM) software company in the United States, Canada, and internationally. It offers Dayforce, a cloud HCM platform that provides human resources, payroll and tax, workforce management, wallet, benefits, and talent intelligence functionalities; and Powerpay, a cloud HR and payroll solution for the small business market.
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